Boyden points to companies' lack of preparation for Digital
The study carried out by Boyden shows a lack of preparation among managers in organizations to implement business strategies in a digital environment. The challenges brought about by the new context are not yet the subject of a structured response, with less than half of those surveyed revealing that they feel this concern through the strategies made available in their organizations.
Lisbon, July 5, 2017 - The Executive Monitor study "The Digital-Savvy C-Suite and Boardroom"developed by Boyden Global Executive Search, points to the risk that managers who fail to keep up with current digital innovation could condemn their organizations to losing competitiveness. The report examines the most pressing challenges facing management and Boards in non-technological sectors as they try to understand a changing digital environment, based on a survey of 1,200 professionals in the North American market and also on the opinions of experts and leaders.
Among the main conclusions identified is the conviction among the majority of participants questioned (53%) that senior management or leadership in their organization is not prepared to implement a successful digital strategy. Less than half (48%) indicate that their organization is putting some kind of emphasis on training in digital tools and processes.
Investing in processes in the digital context may not be a priority for some organizations, especially if they are facing viability or consolidation challenges, as it is not a strategy that promises results in the short term. But the trend towards the new opportunities that lie ahead is unavoidable and expectations are only open to those who understand the promised direction.
For Luís Melo, Partner at Boyden Portugal responsible for the Technology sector, "The outlook is for the evolution of many industries which will be conditioned by what the possibilities of digital allow. This will completely change the business context and create new paradigms, which could cause a significant change in the surrounding context, particularly in markets without major barriers to entry. In practice, this means the growth of the CDO/CTO/CIO function to levels of importance never before reached. Unlike in the past and still in many organizations today, where these executives are better the better their areas are able to support the needs of the business, in the future it is they who will determine the evolution of the business in many industries and who will tell the rest of the board how it will develop in the light of the foreseeable evolution of technology in the world.". In the current scenario of business pursuit, he points to concrete examples that are already beginning, and in the future will have even more impact, to affect the activity at the Organizational and Social level, such as the "reduction of headcount in companies expected with automation, the use of artificial intelligence and the robotization of various functional areas, in parallel with new questions, with answers still to be defined, related to the reaction of public opinion, social responsibility in companies, the intervention of unions, social security and tax issues related to the use of machines/robots instead of people".
About Boyden
Boyden is a leading leadership and talent consultancy with more than 65 offices in over 40 countries. Our global reach allows us to meet the needs of clients wherever they do business. We connect leading organizations with top leaders through processes of executive search, interim management and leadership consulting solutions. For more information, please visit www.boyden.com.